Growth of Energy Business - Flowgroup

RNS REACH
31 March 2015
Flowgroup plc
(“Flowgroup” or the “Company”)
Growth of energy business
Flowgroup plc (AIM: FLOW), which develops and commercialises alternative and efficient energy technology
products, announces that its home energy business, Flow Energy, will re-enter the UK energy market on 7
April 2015 with a competitive tariff, with the aim of growing its customer base.
Flow Energy originally entered the energy market in 2013. It has attracted 66,000 customer accounts since
launch and its current customer base generated £33m revenue in 2014.
Flow Energy will re-enter the market with the Connect Tariff, which will offer fixed prices until 31st March
2016. It is designed to be one of the most competitive tariffs on the market and is priced to attract customers
to Flow Energy, as well as to retain existing customers.
Tony Stiff, CEO of Flowgroup, commented: “Changing consumer behaviour around energy, with higher
switching rates and a move away from the Big 6, as well as governmental focus on encouraging switching,
means the energy market presents an opportunity for our business in 2015. Our new tariff will, we believe,
allow us to grow Flow Energy’s customer base. This would bring significant benefits to the Group, as it did in
2013 and 2014. As well as generating additional revenue, our larger customer base would provide a perfect
opportunity to cross-sell the Flow microCHP boiler, as well as other energy efficient products. We are
therefore extremely pleased to be announcing this news today.”
Flowgroup plc
Tony Stiff, Group Chief Executive Officer
Nigel Canham, Chief Financial Officer
Walbrook PR Ltd
Paul McManus
www.flowgroup.uk.com
Tel: +44 (0)151 348 2100
Tel: +44 (0)20 7933 8780 or [email protected]
Mob: 07980 541 893